Sunday, 21 September 2014

Property Matters Advocate On Making A Will

Property disputes are the major causes of rivalry between families, relatives and even siblings in India. The sky-rocketing prices of properties in urban India are responsible for the greed of materialistic societies. Litigation is not always practical as it often results in prolonged procedures, lawsuits and excessive loss of money. It is popularly said that wise people always make their will at right time to make things easier for the successors. But, those who lack foresight and dies without leaving a valid Will, their property related issues are resolved through law of intestate succession and not through testamentary succession.

"It is quite ironical that around 80 per cent people in Indian die without writing a Will resulting and their heirs end up with taking legal battles against each other. Section 2(h) of Indian Succession Act, 1925 describes Will as a legal instrument to transfer his/her own property to the person he/she names after his/her death."- Kislay Pandey, Property Matters Advocate, the Supreme Court of India.

As per Section 59 of the ISA the Will maker must be mentally sound and should be at least 18 year of age. A person can make amend an old Will or can make a fresh Will after destroying the previous Will. A Will made by a person in inebriated or unconscious condition will be treated invalid before the law. A will should be made in simple language and only in those languages which are recognised by the government of India. The language should be clear to convey that what is the intention of Will maker and to whom he really transfer the property after his/her death.

A Will becomes enforceable only after the deaths of the person who has made the Will; the testator. It is not only ancestral property that can be covered in a Will, one can also make a will of personal wealth and assets.  "The attestation of the Will by an experienced physician is also advisable to avoid latter problems, after the attestation none can claim that the testator was not in sound mental condition at the time of Will writing. Following this, there should be the appointment of a few trusted persons as the executors of the Will at the time of any legal process they need to assure that properties are transferred as per the desires of the testator." - Kislay Pandey, Property Matters Advocate, the Supreme Court of India.

No comments:

Post a Comment